6.39% *Comparison Rate 6.65%
OUR RATES PUT YOU YEARS AHEAD OF THE BIG BANKS
| INSTITUTION |
Variable Rate |
Comparison Rate * |
Commission Paid to Brokers? |
| SCMC – Standard Variable | 6.39% | 6.65% | Nil |
| SCMC – Breathe Easy Loan | 6.62% | 6.54% | Nil |
| SCMC – Line of Credit | 6.44% | 6.70% | Nil |
| CBA – Standard Variable | 7.36% | 7.49% | Yes |
| ANZ – Standard Variable | 7.41% | 7.52% | Yes |
| Westpac – Standard Variable | 7.51% | 7.64% | Yes |
| St George – Standard Variable | 7.43% | 7.59% | Yes |
AND WE DELIVER EXCELLENT FEATURES AND LOW FEES
|
USEFUL FEATURES
|
|
| Owner occupied & investment | Yes |
| P&I or Interest-only | Yes |
| Max LVR for purchases |
95% including LMI |
| Max LVR for refinances and debt consolidation | 90% plus LMI |
| Max Term | 30 years |
| Min loan size | $150,000 |
| Max loan size | $1 million (higher as an exception) |
| First home buyers | Yes |
| Lenders’ Mortgage Insurance | Yes |
| Capitalise mortgage insurance? | Yes |
| Payment frequency | M,F or W |
| Split Loans | Up to 4 splits free |
| Free redraw | Unlimited |
| Free salary crediting | Yes |
| Free 100% interest offsetting | Yes (all-in-one account) |
| Free online loan account | Unlimited access |
| Free phone loan account | Unlimited access |
| ATM/EFTPOS/Bpay | Yes |
| Top Ups | Yes (fees & conditions apply) |
| Fixed rates | Yes (not available in the first 12 months) |
| Bonus Rate drop of 0.15% after 5 years | Yes |
| Construction loan | No |
| Pre-approval | Yes |
| FEES | |
| Application fee | Nil |
| Monthly ongoing fee | Nil |
| Annual fee |
$345 |
| Legal fees(deducted from loan)** | $385 |
| Valuation fee (per security property) |
$275 |
| Settlement fee (deducted from loan) | Nil |
| Offset management fee |
Nil |
| Pre-approval fee |
Nil |
| Discharge Fee | $350 |
| Cancellation of settlement fee^ | $390 |
** This is an estimate of average legal fees. The figure may vary slightly depending on the loan structure. An additional $175 legal fee applies for each additional security property.
^This fee is payable in the event that settlement is cancelled by anyone other than SCMC.
| *COMPARISON RATE 6.65% based on $150,000 over 25 years |
|||
| Loan Amount |
Term | Comparison Rate |
Annual Percentage Rate |
| $150,000 | 25 Years |
6.65%
|
6.39%p.a for 25 years then 6.24% |
| $250.000 | 25 Years | 6.51% | 6.39%p.a for 25 years then 6.24% |
| $300,000 | 30 Years | 6.46% | 6.39%p.a. for 25 years then 6.24% |
| $400,000 | 30 Years |
6.42%
|
6.39%p.a for 25 years then 6.24% |
| $500,000 | 30 Years |
6.40%
|
6.39%p.a for 25 years then 6.24% |
| $600,000 | 30 Years |
6.38%
|
6.39%p.a for 25 years then 6.24% |
*This comparison rate is based on a loan amount of $150,000 over 25 years with fees and charges payable. WARNING: This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Deferred administration fees (exit fees)
There are no Early Exit Fees or penalties if a loan is completely paid off but not discharged within the first five years. Fees may be payable in the event that a loan is fully discharged within the first five years such as in the event of a sale or refinancing.
All SCMC loans are fully portable which means you can transfer the loan to a new or different property for a nominal fee of around $750 and not incur any early exit penalties. Conditions apply.
In the event that an early exit fee is payable, the fee will be 1% of the initial loan amount in the first three years, reducing to 0.80% in the fourth year and 0.60% for the fifth year.
